{"id":4556,"date":"2014-01-08T16:58:00","date_gmt":"2014-01-08T16:58:00","guid":{"rendered":"https:\/\/evssolutions.com\/fighting-online-payment-risks\/"},"modified":"2014-01-08T16:58:00","modified_gmt":"2014-01-08T16:58:00","slug":"fighting-online-payment-risks","status":"publish","type":"post","link":"https:\/\/evssolutions.com\/insights\/fighting-online-payment-risks\/","title":{"rendered":"Fighting Online Payment Risks"},"content":{"rendered":"

Account takeover is one of the biggest concerns of 2014 in
\nthe banking<\/a>
\nand payments
\nindustry<\/a>. Anything from stolen information to money laundering can put a
\nbusiness at risk and doubt in customers minds. Online payments raise the risks
\nof fraudsters gaining access to information and compromising accounts. Weve
\nnoticed organized crime around online payments has developed many different tools
\nto steal information without being detected for periods of time. Some of the
\ngreatest security challenges facing the payments industry have to do with
\nidentity verification and authentication.<\/p>\n

To enhance security you must know your customers, their
\ncustomers and your employees. Organizations cannot grow at an optimal rate due
\nto fraudulent attacks and poor fraud prevention
\ntools<\/a>. There is a need for collaboration and cooperation with one another
\nto ensure criminals dont have the upper hand on valuable data. Criminals are
\nstealing personally identifiable information, credit card information and whatever
\nelse they can get their hands on. There are forums and private marketplaces where
\ncriminals communicate and sell what theyve stolen.<\/p>\n

Being able to prevent account takeover requires identity
\nmanagement and user verification. Too many companies are relying on outdated
\nand weak identity verification techniques such as CAPTCHA<\/a>. Payment processors need to be more
\nproactive and adapt in this new emerging payment marketplace. Understanding
\nthese new environments, risks and figuring out how to adapt to help in the
\nfraud prevention process. As far as attack detection goes, banking institutions
\nand payment processors have to keep customers privacy concerns at top of mind
\nwhen implementing new security measures. Being proactive can help you stay
\nprepared for threats and potential attacks.<\/p>\n

There is a lot of data out there that you can use to verify
\nthe identities of your customers and look for indicators that somebody is not
\nwho they say they are. Utilizing fraud prevention solutions that come fully
\nequipped with dynamic
\nKBA<\/a>, drivers
\nlicense verification<\/a> and more can help protect your company and your
\ncustomers. Remember, mobile payment systems give you the ability to have access
\nto huge new numbers of the worlds customers and theres definitely competition
\nin this area. Stay proactive and collaborate with peers in your industry to
\nkeep fraudsters out. <\/p>\n

<\/p>\n

[Contributed by EVS Marketing]<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Account takeover is one of the biggest concerns of 2014 in the banking and payments industry. Anything from stolen information to money laundering can put a business at risk and doubt in customers minds. Online payments raise the risks of<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts\/4556"}],"collection":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/comments?post=4556"}],"version-history":[{"count":0,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/posts\/4556\/revisions"}],"wp:attachment":[{"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/media?parent=4556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/categories?post=4556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/evssolutions.com\/wp-json\/wp\/v2\/tags?post=4556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}